NEW YORK—U.S. stocks mostly fell Friday after fears about war in the Middle East collided in financial markets with hopes for stronger profits at big U.S. companies.
Oil prices leaped, and Treasury yields fell after Israel’s military ordered the evacuation of northern Gaza ahead of a possible ground invasion, according to the United Nations, which warned of potentially “devastating humanitarian consequences.” But several U.S. banking giants at the same time said their profits during the summer were better than feared, which offered hope on Wall Street for an earning reporting season that may deliver the first growth for big companies in a year.
